of Bargain Property
- Why bank repossessions do not sell for bargain prices
- How to get the property before the bank does
- How to start browsing upcoming deals
- Repossessed properties are simply properties that a bank has bought at a Sheriff Auction because there were no other buyers or the bank has over-valued the property.
- Repossessed properties do not offer great value for bargain hunters because the bank is trying to sell the properties for more than anyone was prepared to pay at the Sheriff Auction.
- Repossessed properties are heavily marketed by the banks and attract a large number of buyers, leading to higher prices.
- Sheriff Auctions, on the other hand, are not well known as the local Sheriff has no advertising budget, and the properties are only listed in the Government Gazette and in two local newspapers.
This makes Sheriff Auctions more attractive to the serious bargain hunter, as there is less competition and the property prices are lower than repossessed properties.
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SheriffHQ is an integrated web service that offers comprehensive and up-to-date information on all Sheriff Auction listings countrywide. Information is sourced from the Government Gazette, and other relevant sources including Geo-mapping and Deeds Office data providing the most recent information – all in one place.